COPENHAGEN— Danish voters rejected Thursday the country's entry into the European common currency by a convincing margin.

The result was expected to put additional pressure on the euro and raise fresh political problems for the 15-nation European Union.

With more than 93 percent of the votes counted, the official tally showed that 53.1 percent had voted against adopting the currency, with 46.9 percent in favor.

The euro slipped marginally during the day in response to exit polls pointing to a "no" vote. At 4 p.m. in New York, it was at 87.96 U.S. cents, compared with 88.34 cents late Wednesday, and Danish interest rates rose slightly, relative to rates in the 11 euro zone countries.

Dealers did not expect a dramatic market reaction to the verdict, however. Most investors had already discounted a negative vote, they said, and the prospect of further intervention by the Group of Seven industrialized countries was supporting the euro, a prospect underscored by a German central banker.

"With a 'no' from the Danes, there would certainly be a loss of confidence in the euro," Klaus-Dieter Kuehbacher, a member of the Bundesbank's governing council, said before the vote. "The European Central Bank would not stand accused of acting only once. Further interventions could therefore be expected."

The Danish minister of foreign affairs, Niels Helveg Petersen, the weakness of the euro in the run-up to the vote had created difficulties for the pro-euro parties. "The euro's fall during the campaign has given the no-side an advantage," he said before the vote.

"It's a victory for democracy, for the Danish people," said Pia Kjaersgaard, head of the rightist Danish People's Party.

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The ballot was not as momentous as Denmark's initial rejection of the Maastricht Treaty on European Union in 1992, a result that triggered devaluations across Europe and forced the renegotiation of that treaty. Still, the referendum came at a critical time for the Union and marked the first time any EU country had voted on the euro itself, so the outcome was expected to have major long-term ramifications.

The "no" vote also could deter Sweden and Britain, the only other EU countries that are staying out of the euro, from contemplating entry for some time, analysts said. Prime Minister Goran Persson of Sweden has said he believes that Sweden ultimately must join the euro, but he has refused to set a date for a referendum, and Swedish officials have said a Danish "no" could postpone one indefinitely.

Prime Minister Tony Blair insisted Thursday that the Danish vote would have no impact on Britain, but with British public opinion hardening against the euro and Mr. Blair's popularity tumbling, many analysts say the chances of a British referendum have diminished.

The Danish result also could deepen divisions within the EU by bolstering those who want further integration among the 11 euro countries — 12 with the entry of Greece in January — even if that slows the EU's enlargement efforts.

Hans Eichel, the German finance minister, hinted at just such a prospect on Thursday. "European integration is an historic process which is irreversible, but the sooner you join the better."

Supporters of the euro, led by Prime Minister Poul Nyrup Rasmussen, argued that Denmark needed to join the currency union to maintain its political influence in Europe and gain a seat at the European Central Bank, which sets monetary policy for the euro zone. Denmark already pegs its krone to the euro and keeps its interest rates at roughly half a percentage point above those in Germany to enforce the link.

Opponents, however, insisted that the euro would effectively end the country's independence and hasten the development of a European superstate that would subsume the identity of small countries such as Denmark.